BMO Capital Initiates a Buy Rating on Nouveau Monde Mining (NOU)
Nouveau Monde Mining received a Buy rating and a C$6.00 price target from BMO Capital analyst Raj Ray yesterday.
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Ray covers the Basic Materials sector, focusing on stocks such as PMET Resources Inc, MP Materials, and Gold Fields. According to TipRanks, Ray has an average return of 34.5% and a 72.90% success rate on recommended stocks.
Currently, the analyst consensus on Nouveau Monde Mining is a Strong Buy with an average price target of C$7.28.
Based on Nouveau Monde Mining’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$8.06 million.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NOU in relation to earlier this year.
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